ACCOUNTING SOFTWARE

Accounting software allows you to record and report your farm business finances. The software allows you to download transactions from your bank account, so there’s no need for manual data-entry. It categorises transactions so that you can track expenses and income, and automates reporting, such as monthly and annual profit and loss and cash-flow.

If you’re just starting your search for accounting software, it won’t take long before you discover that there are an overwhelming number of accounting products. Here we’ve provided prices for the products currently used by small-scale growers and farmers: Sage, QuickBooks, Xero, and Wave.

Accounting software is no longer something loaded onto a computer but rather in the ‘cloud’ and accessible by anyone with the log-in, and from either a computer or mobile phone. All the online selling platforms (above) integrate with one or more of these accounting packages, but check which ones.

Expect to pay a monthly fee, which is upwards of £10+VAT per month. There is one product which provides many of its services for free, see below, and they all can either be trialled for free for between 30 days and 3 months, or are half-price for the first six months.

Wave
Most of Wave’s services are free, so if you’re a sole trader or have just a few employees, it’s worth considering. It’s also one of the accounting softwares that the Open Food Network can integrate: https://www.waveapps.com/accounting

Sage
Sage is popular with small farm business owners. Accounting Start for sole traders and microbusinesses is 75% off for 3 months, then £12 + VAT a month: https://www.sage.com/en-gb/sage-business-cloud/accounting/

QuickBooks
Quickbooks includes free phone and on-line support. It’s offering a 75% discount for the first four months, so Simple Start is currently £3 per month, rising to £12: https://quickbooks.intuit.com/uk/#price

Xero
Xero is more commonly used by larger businesses, for example allowing for unlimited users. It does however offer a Starter package with limited functionality (e.g. maximum of 20 invoices/month) for small businesses at £10 per month. Xero offers a free 30-day trial, and then its Standard package is £24 per month. https://www.xero.com/uk/pricing/